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Crude oil at US$ 100 (RM 329) : ensure supply of gas & petrol

Media Statement
by Dr Tan Seng Giaw


(Kuala Lumpur, Friday): I call on the Government to ensure adequate supply of petrol, gas, flour and other goods.


As the pressure of high crude oil price, gas, flour and other commodities mounts, the Prime Minister YAB Dato' Seri Abdullah and his deputy Datuk Seri Najib must discuss with the oil giants about gas and petrol prices. We hope that they can allay the fear of the people who are affected by the vagary of price hike on essential goods.

Dr Tan comments on the crude oil price going up to US$ 100 per barrel. Apparently, this is not due to shortage of supply, but to other factors such as availability of liquidity.

Crude oil is the main energy source. The jump of its price from US$ 20 in 2002 to US$ 100 now has huge effects. Although Malaysia produces petroleum and palm oil that help to relieve the pressure, the price of petrol and gas affects industry, transport, Tenaga Nasional Berhad (TNB)and so forth. As its fuel is mainly gas, that TNB is considering raising electricity charges gradually is hardly surprising.

Hitherto, the Prime Minister maintains that he has not decided on the increase of the price of gas and petrol. Some guess that the hike in their price will follow soon.

Under the current pressure, some oil companies may hoard the fuel, causing shortages. Towards the end of last year, there were rumours of shortages of gas and reinforced flour. On the eve of 2008, SMS messages denoted increase in petrol price by 20 to 30 sen per litre, causing motorists to queue up at petrol stations. Hence, we hope that the Government adopt effective measures to ensure adequate supply of petrol, gas, flour and other goods.

There are people who predict that the Government will not let the increase in the price of petrol and gas before general elections. Once the elections are over, prices of these and other goods will rise. We hope that the Prime Minister regards the welfare of the people as a priority and that he will help to curb inflation that will hit the people.


*Dr Tan Seng Giaw, DAP National Deputy Chairman and MP for Kepong

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